Qatar has topped the Middle East and North Africa in the sector of agricultural technology modernization, according to a study conducted by the Qatar Investment Promotion Agency.
The study confirmed that the immense growth potential in the agricultural technology sector in the region and its commitment to environmental management have made it attractive for agricultural investment, achieving an annual growth rate of 15.2% in local food production. The report stated that Qatar outperformed its counterparts in the Gulf Cooperation Council with a compound annual growth rate of 4.3% between 2014 and 2019, and recorded a staggering 400% increase in local food production between 2017 and 2019. It achieved 100% self-sufficiency in poultry production and 109% in dairy production in 2019, compared to 2017 when Qatar relied on imports for 72% of its supplies.
The study emphasized that investors are eager to capitalize on the immense growth potential in the agricultural technology sector in the Middle East, which is expected to reach a value of $170 billion by 2025. It showed that intensifying investment in technology and digitization has fueled this sector. The study pointed out that the State of Qatar aims, through its National Food Security Strategy, to achieve 70% self-sufficiency by 2023, in addition to significant investments through technology.
